According to report published by Grand View Research, Global Geosynthetics Market was estimated at 6,124.0 million square meters in 2014. Increasing application of geotechnical products for controlling seepage problems in building and irrigation projects is expected to have a favorable impact.

Global Geosynthetics Marketis expected to reach USD 27.08 billion by 2022, according to a new study by Grand View Research, Inc. Construction industry growth in India, China, and the Middle East, on account of rising expenditure on infrastructure development is expected to be a crucial driving factor for geosynthetics market growth.

Increasing application of geotechnical products for controlling seepage problems in building and irrigation projects is expected to have a favourable impact. Growing shale gas production in U.S. and Canada on account of increasing expenditure on hydraulic fracturing at domestic level may drive industry growth in the near future.

Geotextiles market were the largest product segment with demand estimated over 4,300.0 million square meters in 2014. They find application in erosion control and soil reinforcement on account of properties such as flexibility, permeability and enhanced thickness.

Further key findings from the study suggest:

Global geosynthetic market size was 6,124.0 million square meters in 2014 and is expected to reach above 9,000.0 million square meters by 2022, growing at a CAGR of 5.1% from 2015 to 2022.

Roads & pavements accounted for over 30% of global volume in 2014. Geogrids and geotextiles are incorporated for soil reinforcement and facilitating filtration during road construction.

Containment & waste water application is expected to witness the fastest growth in terms of volume, at a CAGR of 5.7% from 2015 to 2022. Rising importance of waste water treatment in mining and upstream oil & gas sectors is expected to increase geotechnical product use in the near future.

Asia Pacific geosynthetic market was valued over USD 6,100 million in 2014. The Government of India announced Make in India Campaign in September 2014 which is aimed at increasing manufacturing output through foreign direct investment at domestic level. This supportive plan is expected to increase expenditure in construction industry and thus likely to have a positive impact on the market.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.